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Milwaukee's Chase Tower sold for $34.25 million

Downtown skyline with Buildings in Milwaukee USA
Posted at 2:47 PM, Nov 26, 2021
and last updated 2021-11-26 15:47:30-05

MILWAUKEE — One of Milwaukee's largest downtown office buildings has been sold.

The Milwaukee Journal Sentinel reports an affiliate of New York-=based Group RMC has purchased the the 22-story Chase Tower for $34.25 million.

An affiliate of Michigan-based Farbman Group sold the building after buying it for $30.5 million in 2016.

The building was built in 1962 and was originally known as Marine Plaza.

The 477,772-square-foot-structure has 88,223 square feet of office space available for lease.

That equates to an 18.5% vacancy rate.

Chase Bank serves as the anchor tenant.

Group RMC bought the 14-story 330 Kilbourn building in downtown Milwaukee earlier this year for an undisclosed price.

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